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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (9717)	11/28/1997 1:56:00 PM
From: Cynic 2005	Respond to of 18056

To all, I don't know if this news came after the markets closed in India. A mid term-election is viewed as negative. A congress government may be acceptable to the markets. But, I doubt if the Congress govt. can hold on to the power for long. NEW DELHI, India -- The powerful Congress Party withdrew support from India's ruling coalition Friday, ensuring the country's third government collapse in less than two years. The party, once a key ally of Prime Minister Inder Kumar Gujral's 14-party United Front, now will attempt to put together its own government coalition. If it fails as expected, parliamentary elections would be called three years ahead of schedule. Congress's top leaders were expected to offer a plan later Friday for forming their own government. "We have withdrawn support to the United Front government under I.K. Gujral. We have communicated this to the president," said party speaker Sitaram Kesri.